CSK Announces Revised Earnings Forecasts
OREANDA-NEWS. February 10, 2011. CSK CORPORATION (CSK) today announced the following revisions of its consolidated full-year forecasts for the fiscal year ending March 31, 2011, which were announced on November 4, 2010.Consolidated full-year forecast revisions (for the fiscal year from April 1, 2010 to March 31, 2011)
| Net income
| Net income|
(loss) per share (JPY)
| Previously announced
(announced November 4, 2010)
|Revised forecast (B)||145,000||7,000||3,700||(7,500)||(59.65)|
|Change in %||(9.4)||(30.0)||(52.6)||-||-|
| For reference:
Previous full-year results
(April. 1, 2009 to March. 31, 2009)
Reasons for divisions
During the third-quarter period under review, orders received by each of CSK Group's business segments-BPO, IT management, and Systems Development-generally trended higher than during the comparable period of the previous year.
However, in considering the previous forecasts, a number of factors are expected to have an impact on operating revenue and operating income for the full year. These factors include delays or a reduction in the size of large-scale projects that were expected to contribute to results for the current fiscal year, along with a greater-than-expected shift to in-house work by existing customers and continued pressure on pricing.
In addition, non-operating expenses and extraordinary losses are expected to be recorded in the fourth quarter of the current fiscal year, arising from further measures being taken to streamline assets, concentrate resources and strengthen profitability from the next period in core IT services business.
CSK has therefore reviewed the amount of deferred income tax assets with respect to the above factors, and revised the full-year forecasts that were announced on November 4, 2010.
Note: The above forecasts are based on information available as of the date of their announcement. Actual earnings may differ from these forecasts for a variety of reasons.